Ballistics are similar to the .303 British, .308, and 7.7 Arisaka. They're nice deer hunting rifles, but don't expect a 'tack driver'. Also if you handload ammo isn't too bad. Privi Partisan is the cheapest I've seen for production ammo for about 16 bucks a box. Mine likes the Hornady 'Custom' rounds. I hit a 5/5 inch target cube at 100 yards open sights consistantly (hard to tell where they hit since the thing just bounces around). You'll like it, but like someone said before if you do handload keep the rounds in spec. Idiots who hot load have a tendency to set the bolt back in the receiver.
To Gun Plummer: I found these for you, the Argentine holds close to the Velocity of the 30/06 but the energy is a few hundred ft/lbs less.
30/06
Ballistic performance
Bullet weight/type Velocity Energy
150 gr (9.7 g) Nosler Ballistic Tip 2,910 ft/s (890 m/s) 2,820 ft·lbf
165 gr (10.7 g) BTSP 2,800 ft/s (850 m/s) 2,872 ft·lbf
180 gr (12 g) Core-Lokt Soft Point 2,700 ft/s (820 m/s) 2,913 ft·lbf
200 gr (13 g) Partition 2,569 ft/s (783 m/s) 2,932 ft·lbf
220 gr (14 g) RN 2,500 ft/s (760 m/s) 2,981 ft·lbf
Test barrel length: 24 inch 60 cm
7.65x53 Belgian Mauser
Ballistic performance
Bullet weight/type Velocity Energy
155 gr (10.0 g) FMJ-BT 2,710 ft/s (830 m/s) 2,530 ft·lbf
174 gr (11.3 g) FMJ-BT 2,460 ft/s (750 m/s) 2,340 ft·lbf
211 gr (13.7 g) FMJ 2,130 ft/s (650 m/s) 2,150 ft·lbf